Cement News tagged: Corporate
INFORM to open new office in Singapore
INFORM is expanding its international sales activities and services. With INFORM Software Pte Ltd, based in Singapore, the optimisation expert is expanding its presence in Asia. The partner organisation will take over sales and consulting as well as providing support for INFORM software for this region. With the new location in Singapore, opening on 23 November 2022, the software compan...
New appointments at the Mineral Products Association
The Mineral Products Association (MPA) has appointed Jon Flitney as energy and climate change manager. Jon will be working with the MPA Cement Climate Change and CO 2 Reduction group providing support to sector decarbonisation and associated policies. Jon joins from the British Ceramic Confederation (BCC) where he has worked across energy, environment, climate change and decarbo...
Star Cement net profit falls QoQ
Star Cement has posted revenue from operations of INR5958m (US$73.6m) in the quarter ended 30 September 2022. This compares to INR6587m in the previous quarter and INR4102m in the quarter ended 30 September 2021. Net profit attributable to shareholders of the company came in at INR235.5m in the September 2022 quarter, down from INR413m in the previous quarter but up from INR229m in the year-...
Sanghi Industries sees profit decline YoY in the September 2022 quarter
India’s Sanghi Industries Ltd has posted revenue from operations of INR2298m (US$28.3m) in the quarter ended 30 September 2022, down from INR3391m in the previous quarter but up from INR2113m in the same period a year earlier. Profit over the same period has fallen from a gain of INR44.5m in the September 2021 quarter to a loss of INR328m in the quarter ended June 2022 and a further loss of ...
Grasim Industries announces 2% fall in net profit
Grasim Industries, which has a 57 per cent stake in UltraTech Cement Ltd , has reported standalone net profit of INR9643m (US$118.8m) in the quarter ended 30 September 2022, down 1.5 per cent YoY. Revenue from operations over the same period advanced almost 37 per cent to INR67,450m, while EBITDA expanded 19.4 per cent to INR9566m. Margins, however, contracted by 206 basis points to 14.18...
Tokyo Cement posts 34% rise in revenue
Sri Lanka-based Tokyo Cement saw turnover advance 34 per cent YoY to LKR30,317m (US$82.5m) in the six months ended 30 September 2022. However the group reported an exchange loss of LKR3674m over the same period, giving a total exchange loss of LKR8733m over the calendar year so far, putting significant pressure on the group’s cashflows. Throughout the six-month period the group deployed a...
IFC loan proposed for new Al Douh Cement production line
IFC is proposing a corporate loan of up to US$65m to Al Douh Cement Co , one of the leading producers of cement in Iraq, to finance the company’s planned expansion of its production capacity. The project envisages the construction of a new production line of sulphates-resistant cement within the same site, with a capacity of 2Mta. The new line will be equipped with a kiln fuelled by nat...
CEMEX UK supports Capital Hydrogen
CEMEX UK has pledged its support of Capital Hydrogen, a partnership between Cadent, SGN and National Grid Gas Transmission, which plans to deliver a transition to low carbon hydrogen for gas networks in the East of England, South East and London. As part of its participation, CEMEX has committed to working with Capital Hydrogen to assess the feasibility of implementing hydrogen powered eq...
Sephaku Holdings posts net profit after tax of ZAR26.7m
Sephaku Holdings (Dangote Group) has posted net profit after tax of ZAR26.7m (US$1.54m) for the six months ended 30 September, building on the net profit after tax of ZAR17.8m it posted in the prior comparable six months. CEO Neil Crafford-Lazarus said SepCem has been suffering from decreased demand for building materials and especially bagged cement for close to a year. The subsidiary’s ...
Kuwait Portland Cement 3Q profit stable
Kuwait Portland Cement posted a 3Q total operating revenue of KWD32.7m (US$106.2m) in 3Q22, up from KWD27.6m in the equivalent period of 2021. The company’s net profit attributable to shareholders remained stable at KWD1.3m in the 3Q22.
Universal Cement sees 3Q profits surge
Taiwan-based Universal Cement Corp reported a 22.7 per cent YoY increase in revenue to TWD1783.1m (US$57.6m) in the third quarter of 2022 from TWD1453.2m in the same period a year earlier. Pretax profit advanced by 158 per cent from TWD240.1m in the 3Q21 to TWD618.7m in the 3Q22 while net profit surged 193.8 per cent YoY from TWD194m to TWD570m.
JK Cement records net profit of INR1248m
JK Cement has reported that its standalone net profit declined by 26.1 per cent to INR1248m (US$15.5m) in the 2QFY22-23. This is against INR1688m in the year-ago period, the company said in a regulatory filing. The revenue from operations during the declined by 16.7 per cent during the period. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) was down by 9.8 per cen...
Taiheiyo Cement posts 11% rise in sales
Japan’s Taiheiyo Cement Corp has posted consolidated net sales of JPY375,982m (US$2697m) in the six months ended 30 September 2022, marking a 10.6 per cent advance YoY. Operating profit over the same period has fallen from JPY25,812m to a loss of JPY313m, while basic earnings per share have contracted from JPY163.92 in the quarter ended 30 September 2021 to -JPY140.58 in the same period t...
Burnpur Cement reports further losses
India-based Burnpur Cement Ltd has reported total revenue of INR330.3m (US$4.09m) in the quarter ended 30 September 2022. This compares to INR312.9m in the previous quarter and INR337.4m in the quarter ended 30 September 2021. A loss from continuing operations of INR202.5m was seen in the September 2022 quarter, versus a loss of INR179.2 in the previous quarter and a loss of INR183.9m in th...
Holcim Philippines posts loss as expenses rise
Holcim Philippines has reported a 6.93 per cent increase in total revenue to PHP6.94bn (US$121.17m) in the third quarter of 2022, up from PHP6.49bn in the same period a year earlier. Despite this, the company posted a net loss of PHP173.28m in the 3Q22, down from a profit of PHP669.26m in the 3Q21. According to the company, this was due to higher expenses with its gross expense increasing by...
Deccan Cements sees profits fall 72%
Deccan Cements Ltd has seen its total revenue decline from INR1927.3m (US$23.8m) in the quarter ended 30 September 2021 to INR1822m in the same period this year. Over the same timeframe, the company has seen its profits tumble from INR233.3m to INR65.6m, a drop of 71.9 per cent YoY. Profit in the quarter ended 30 June 2022, stood at INR206.7m. Basic earnings per share have declined from INR1...